London: Indian mining firm Vedanta Resources PLC is expected to begin a break-up of its business with the demerger of its $20bn (?13bn) aluminum division, the Independent reports Sunday.
Citing sources close to Vedanta, an announcement of the demerger could be made as early as this week, the newspaper reports.
Vedanta and its advisers believe simplifying the ownership structures of the company's subsidiaries will make the overall group more valuable.
Morgan Stanley, Credit Suisse and JP Morgan Cazenove are advising Vedanta on the demerger, the report said.
The company intends to spin-off five or six of its businesses over the next few years, including zinc, ironore and power divisions, though the company will retain controlling interests in all.
After the aluminum division, Vedanta's Zambian copper business is expected to be "spun-off", the Independent said.
Bureau Report
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